We talked about the correction in oil prices last week as an opportunity to buy the dip in energy. Here’s an excerpt from my Thursday note … “This dip in the energy/oil and gas sector is a buy. The globally coordinated ’Clean Energy Revolution’ promotes higher oil prices, not lower. That’s the...
https://www.hellenicshippingnews.com/oil-prices-roaring-back-just-in-time-for-memorial-day-travel/
A dovish Federal Reserve and accelerating growth abroad are weighing on the dollar, a move that could be a boon for stocks and other assets. The U.S. Dollar Currency Index is down 4% from its 2021 peak, making the greenback the worst performer of the world’s major currencies so far this quarter. By...
https://www.hellenicshippingnews.com/floundering-dollar-falls-to-bottom-of-global-currency-heap/
Copper prices in London advanced on Wednesday, as a weaker dollar made greenback-priced metals cheaper to holders of other currencies. Three-month copper on the London Metal Exchange CMCU3 rose 0.4% to $9,953.50 a tonne by 0136 GMT, while the most-traded July copper contract on the Shanghai Futures...
https://www.hellenicshippingnews.com/london-copper-rises-as-weaker-dollar-boosts-appeal/
Decarbonisation, digitalisation, use of alternative energies, intermodality and drivers of innovation are some of the common strategic axes in the port areas for economic and social transformation following COVID-19, along the lines set out by the European Union in the Green Pact to develop a sustainable economy. The European port system addressed these challenges at …
The post Decarbonisation and digitisation, common strategy of the European ports to boost economic transformation first appeared...
In the global refining industry, COVID-19 has exposed a seismic shift. While China’s oil refineries forge ahead with capacity expansion, many western-based refiners have retrenched. As China again hits the stimulus pedal, this year it is expected to officially surpass the U.S. as the world’s...
https://www.hellenicshippingnews.com/why-china-will-be-the-worlds-largest-oil-refiner-in-2021/
Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2021. For the quarter ended March 31, 2021, the Company generated net revenues of $20.4 million, a 53% increase compared to the first quarter of 2020. Adjusted EBITDA for the quarter was approximately $7.9 million, increased by 483% from $1.4 …
The post Seanergy Maritime Holdings Corp. “Rides” the Dry Bulk Market Wave During the First Quarter first appeared on Hellenic Shipping News Worldwide.
Commodity prices have been surging across agriculture, energy and metals. Oil has risen 95% from its March 2020 lows, copper has rallied 91% and corn has gained 47% over the last 12 months just to name a few. These staggering gains have led to talk of a commodities supercycle. A supercycle is a...
https://www.hellenicshippingnews.com/the-currencies-benefiting-from-a-commodities-surge/
Oil rose on Wednesday as worries about an increase in supplies from Iran were offset by optimism about improving U.S. fuel demand that was reinforced by a drop in weekly inventory estimates. Brent crude oil futures for July rose 44 cents, or 0.6%, to $69.09 a barrel by 0710 GMT, while U.S. West...
https://www.hellenicshippingnews.com/oil-gains-as-demand-optimism-offsets-fears-of-supply-glut/
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued upward changes on May 25: 380 HSFO – USD/MT – 424.74 (+4.08) VLSFO – USD/MT – 523.18 (+5.53) MGO – USD/MT – 616.30 (+5.41) MABUX ARA LNG Bunker Index, available from April 29, …
The...
https://www.hellenicshippingnews.com/mabux-bunker-prices-may-change-irregularly-on-may-26/
The Suez Canal Authority (SCA) said on Tuesday it was still open to negotiating with the owners of a giant container ship which blocked traffic in the waterway for six days in March despite an ongoing litigation process in an Egyptian court. The Ever Given, one of the world’s largest container...